There is support available for millions of homeowners in the United States, as a federal program is helping when it comes to aiding any residents who need to catch up on their late payments.
There is up to 80,000 dollars on offer for people who are still paying their mortgage payments, with many homeowners having been affected by the loss of their job or reduced hours as a result of the COVID-19 pandemic.
US president Joe Biden‘s American Rescue Plan Act ensured that there was some stimulus money put aside for states to then use to support any vulnerable homeowners who could be at risk of losing their homes. In order to receive the money, however, states had to apply to get the support.
According to the National Council of State Housing Agencies (NCSHA), all of the states and eligible territories applied to receive the financial aid for homeowners. Now, the US Department of Treasury is looking to work in conjunction with each state to set up their own homeowner assistance fund.
What states are sending checks?
The federal program that has been introduced to provide help for homeowners who are struggling to pay their mortgages is called the homeowner assistance fund (HAF).
There is now a HAF program available in the majority of states, with pilot programs also on offer.
In California, the mortgage relief program has made it possible for each household struggling with payments in the Golden State to receive up to 80,000 dollars.
Meanwhile, in New York, there has been such a demand that the state is no longer giving the green light for applications for any mortgage relief.
Anyone living in Chicago, Illinois, will find that the state is creating its own mortgage relief program and will start to accept applications from April 2022. There, any eligible homeowners will be able to receive up to 30,000 dollars to aid with eliminating or reducing overdue mortgage and property tax payments.
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